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Author Topic: Old simplecoin thread  (Read 93911 times)
pete248
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June 09, 2011, 08:34:43 PM
 #361

Just wanted to say how much I like this pool and appreciate all the hard work you're putting in for us Simplecoin.

To implement the cheat-proof scoring, even though you're taking a loss by doing so, is pretty fantastic. Also all the crazy math you've had to do over there to put it in place can't be too fun. So thanks for all that.

One quick question - when we find a block, will it be posted on the website before it matures? Or only after it's matured do we see that we found one?

It should show up in stats with the confirmations.

I am still confused I have been mining for two days now and have not had a payout. Am I doing something wrong?

No, the pool is new. To solve a block a day at the current difficulty, we would need ~25GHs.
This means we will generally see payouts less often, but more rewarding payouts.

That said, I wish we the 35GH/s we had the other day Wink

So are diffferent pools working on different blocks? Or do they all try and solve the same one?
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RyNinDaCleM
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June 09, 2011, 08:49:01 PM
 #362

No! We all "race" to find the block. The same block!

pete248
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June 09, 2011, 08:53:01 PM
 #363

No! We all "race" to find the block. The same block!


So say if a member of Deepbit or BTCGuild found the soution to the current block, we wouldn't get paid anything?
simplecoin
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June 09, 2011, 08:57:33 PM
 #364

No! We all "race" to find the block. The same block!


So say if a member of Deepbit or BTCGuild found the soution to the current block, we wouldn't get paid anything?

Just like it we find it they don't get paid.

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simplecoin
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June 09, 2011, 08:58:22 PM
 #365

Pseudo-SSL is now available for the paranoid. Real SSL cert is being setup for the new main server.

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RyNinDaCleM
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June 09, 2011, 08:59:47 PM
 #366

No! We all "race" to find the block. The same block!


So say if a member of Deepbit or BTCGuild found the soution to the current block, we wouldn't get paid anything?
But, on a brighter note, the winning block could be in the first share! It's all in how luck falls!

What is SSL?

simplecoin
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June 09, 2011, 09:02:53 PM
 #367

No! We all "race" to find the block. The same block!


So say if a member of Deepbit or BTCGuild found the soution to the current block, we wouldn't get paid anything?
But, on a brighter note, the winning block could be in the first share! It's all in how luck falls!

What is SSL?

https support. Encryted login

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RyNinDaCleM
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June 09, 2011, 09:04:38 PM
 #368

K Thanks!

bitblazing
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June 09, 2011, 09:13:33 PM
 #369

so wait if another group solves the block first we dont get paid??
LegitBit
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June 09, 2011, 09:17:48 PM
 #370

so wait if another group solves the block first we dont get paid??

Yes. That is how all of the pools work.

The whole point is a race to the finish. Think of it as a lottery.

By joining the pool, you agree that if anyone in the pool finds the block, we split the share with the pool. We are trying to raise our chances of a winning ticket by joining together.

Other pools and solo miners are our competition.

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RyNinDaCleM
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June 09, 2011, 09:19:07 PM
 #371

so wait if another group solves the block first we dont get paid??
Your shares are still counted toward our winning block!

pete248
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June 09, 2011, 09:22:38 PM
 #372

so wait if another group solves the block first we dont get paid??
Your shares are still counted toward our winning block!

Ah right ok, so on a pool like deepbit or swepool, which pay you as you go, if they dont win that block the pool owner has effectively lost that money until they win one?
simplecoin
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June 09, 2011, 09:28:40 PM
 #373

so wait if another group solves the block first we dont get paid??
Your shares are still counted toward our winning block!

Ah right ok, so on a pool like deepbit or swepool, which pay you as you go, if they dont win that block the pool owner has effectively lost that money until they win one?

No, they just solve blocks faster. Unless you use Pay-Per-Share, which is like donating 10%.

Also: ANDROID account app is up on the first page

It's not pretty, but it works. My java experience is pretty limited, so a full blown app is a ways off.

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RyNinDaCleM
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June 09, 2011, 09:35:49 PM
 #374

so wait if another group solves the block first we dont get paid??
Your shares are still counted toward our winning block!

Ah right ok, so on a pool like deepbit or swepool, which pay you as you go, if they dont win that block the pool owner has effectively lost that money until they win one?
No! Your cut is still of 50BTC! Just that 50BTC reward is cut up over 1,000,000 shares instead of 100,000. (these numbers are just examples)

bitblazing
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June 09, 2011, 09:38:22 PM
 #375

wow well how can we compete with these huge pools then?
simplecoin
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June 09, 2011, 09:40:50 PM
 #376

wow well how can we compete with these huge pools then?


We can't, in terms of solving many blocks fast. We can however solve some blocks slowly, and get a larger reward for those blocks. Statistically, it all evens out over time.

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RyNinDaCleM
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June 09, 2011, 09:41:44 PM
 #377

 Actually less at deepbit due to 3-10% fees.

FreeJAC
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June 09, 2011, 09:51:03 PM
 #378

You just have to be more patient in a smaller pool but like someone else said it all works out in the wash in the end. I will be joining tonight with about 250Mhash/s and another 600 on the way in a week or so. I will be anxious to solve a bock in a smaller pool.  Smiley

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RyNinDaCleM
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June 09, 2011, 09:54:15 PM
 #379

You just have to be more patient in a smaller pool but like someone else said it all works out in the wash in the end. I will be joining tonight with about 250Mhash/s and another 600 on the way in a week or so. I will be anxious to solve a bock in a smaller pool.  Smiley

Better get up quick! We're about due to hit! Wink

kiwiasian
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June 09, 2011, 10:06:03 PM
 #380

The only downside is you have to be committed and patient. Unlike deepbit where they solve blocks every hour and you can only mine for an hour and get a payout, on smaller pools you have to mine for a far longer time to see a reward.

To extend on what I mean by mining for a longer time:
Assume that in one round (the duration of time it takes to solve a block) there are 5 shares, and you submit 1. You would thus be contributing to 20% of the effort, and you would receive 20% of the block reward. If the round lasted 50 shares and you only mined for part of the round (5 shares) your earnings would decrease as the denominator increases as the numerator stays constant--so your earnings would shrink from 100% (5/5) to 10% (5/50)

I am aware that there is more than just what is above, with weighting and cheat-prevention, but it provides an approximate estimate at how much you would potentially be earning.

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